Tag Archives: Non-Fungible Token (NFT)

The United Kingdom has dropped its plans to launch a government-backed non-fungible token (NFT) aimed at enhancing the country’s approach to crypto assets. Andrew Griffith, Economic Secretary of the Treasury, disclosed to Parliament that the Royal Mint, tasked with creating the NFT, would not proceed with the plan but would keep the proposal under review. HM Treasury Cancels NFT Plans Recall that Rishi Sunak, the UK’s Prime Minister and former Chancellor of the Exchequer,...

Gucci announced a multi-year partnership with Yuga Labs, the company behind well-known NFT collections such as Bored Ape Yacht Club (BAYC), CryptoPunks, and Meebits. The main aim is to explore “the intersection between fashion and entertainment in the Metaverse,” according to the press release. With the latest move, the Italian high-end luxury fashion house is cementing its place as an early mover in Web3. Gucci-Otherside Robert Triefus – who happens to be Gucci’s senior...

Multi-chain non-fungible token (NFT) marketplace Magic Eden has launched a “fully audited” marketplace on the Bitcoin network as interest in Ordinal NFTs continues to grow. In a press release, Magic Eden said it released the marketplace in honor of Bitcoin’s culture. Riding on the “lightning pace of adoption” that followed the launch of the Ordinal theory, the platform aims to empower collectors and creators, giving them access to appropriate tools. Magic Eden Catches Ordinal...

Silicon Valley Bank (SVB) was the backbone of many startups and venture capital funds around the world. Its collapse signifies the biggest banking failure since the 2008 financial crisis. While the crypto market has largely been spared from an adverse effect, the same cannot be said for the non-fungible token (NFT) space. According to the latest edition of the DappRadar report, the NFT traders went “numb” in response to the banking turmoil in the United States. NFT Space...

Cryptocurrency exchange Binance’s non-fungible token arm – Binance NFT – has announced adding support for the Polygon network on March 8th. The integration of the Polygon network will enable users to explore and trade a wider variety of NFTs across multiple blockchains. This includes – BNB Smart Chain (BSC), Ethereum (ETH) network, as well as Polygon from their Binance accounts. Despite the announcement, Binance has taken a cautious approach in terms of NFT listings. As such,...

Amazon, the world’s largest e-commerce company, is reportedly preparing to enter the world of non-fungible tokens (NFT) with the launch of its own Marketplace, reportedly scheduled for April 24th. According to Yahoo Finance, the new ‘Amazon NFT Marketplace’ or ‘Amazon Digital Marketplace’ will offer 15 NFT collections that will initially be available to customers in the United States. The company is expected to expand the service to other countries in the future. The reports...

Despite the ups and downs of the crypto market, the Web3 and the NFT gaming industries continue to attract the attention of business leaders who are betting on technological innovation to push the whole ecosystem forward. On February 24, Trip Hawkins, one of the founders of Electronic Arts (EA), announced he was joining the Web3 gaming startup Games for a Living (GFAL) as co-founder and chief strategist. GFAL develops a set of tools that allow the development of Web3 games....

Spotify is testing a new service – “token-enabled playlists” – with one of its partners to enable non-fungible token (NFT) holders to connect their wallets and access curated music. It is currently in the pilot phase. The new service was designed in partnership with the Web3 gaming ecosystem, Overlord, and involves a token-enabled community-curated playlist that can be accessed via Web3 wallets of those who hold the Creepz NFTS on Spotify. According to the official...

STX – the native token of the Stacks network – has soared by a whopping 160% in the past seven days.  One possible reason behind the significant surge could be the connection between the asset and one of the recent trends in the cryptocurrency space – the Bitcoin NFTs through the Ordinals protocol. The financial services platform – Matrixport – predicted that STX could rally even more in the near future. The primary reason is the rapidly increasing number of newly-minted...

On February 14, 2023, The Los Angeles County Museum of Art (LACMA) announced that it received the first and largest donation of NFT art ever sent to an American museum. According to LACMA’s statement, the donation of 22 digital artworks was made by the collector Cozomo de’ Medici. The collection includes works by international artists from Brazil, Canada, China, England, Germany, Portugal, and the United States. Some of the NFTs donated to LACMA. Image: LACMAAmong the donated...